|
|
|
MIRA
INFORM REPORT
|
Report No. : |
491185 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GEMINI CREATION CO., LTD. |
|
|
|
|
Registered Office : |
23rd Floor, TPI Tower, 26/56 Chan Tat Mai Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
25.05.2004 |
|
|
|
|
Com. Reg. No.: |
0105547070563 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject
is engaged in
design and manufacturing services
of gemstone and
diamond jewelry with
fine gold and
vintage silver under
international standard processing.
The products are
ring, earrings, pendant, bracelet
|
|
|
|
|
No. of Employees : |
65 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source
: CIA |
COMPANY NAME
GEMINI
CREATION CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 23rd FLOOR,
TPI TOWER, 26/56
CHAN TAT MAI
ROAD,
THUNGMAHAMEK, SATHORN,
BANGKOK
10120, THAILAND
TELEPHONE : [66] 2678-6058,
2678-8945, 2678-9194
FAX :
[66] 2678-7419
E-MAIL
ADDRESS : gemini@csloxinfo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0105547070563
TAX
ID NO. : 3031384880
CAPITAL REGISTERED : BHT. 55,000,000
CAPITAL PAID-UP : BHT.
55,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. VIJAY RAWAT,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 65
LINES
OF BUSINESS : FINE
GOLD AND SILVER
JEWELRY
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject
was established on
May 25, 2004
as a private
limited company under
the registered name GEMINI CREATION CO., LTD., initially
by Indian groups, with the
business objective to
provide design and manufacturing
various styles of
gems and diamond jewelry
with gold and
silver to both
domestic and international
markets. It currently
employs 65 staff.
Presently,
the subject is
a joint venture
between Thai and
Indian groups.
The subject’s registered address is 23rd
Floor, TPI Tower, 26/56 Chan Tat Mai Rd.,
Thungmahamek, Sathorn, Bangkok
10120, and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vijay Rawat |
|
Indian |
54 |
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Vijay Rawat is
the Managing Director.
He is Indian
nationality with the
age of 54
years old.
Mr. Arjun Rawat is
the Sales & Marketing Director.
He is Indian
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
design and manufacturing
services of gemstone
and diamond jewelry
with fine gold
and vintage silver
under international standard
processing. The products
are ring, earrings, pendant, bracelet
and etc.
PURCHASE
Raw
materials such as
gemstones, semi-precious stones,
diamonds and accessories
are purchased from
both domestic and
overseas suppliers, mainly
in India, Africa,
Brazil, Japan and
Republic of China.
EXPORT
95% of the
products is exported
to U.S.A., Hong
Kong, India, Japan,
Singapore, Indonesia, Malaysia,
Russia and European
countries, the remaining
5% is sold
locally.
MAJOR
CUSTOMER
Gauri
Creation Inc. :
U.S.A.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according to the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are paid by
cash or on
the credits term
of 30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
EMPLOYMENT
The
subject employs 65
staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory is
located at Gemopolis
Industrial Estate, 40/4-5
Soi 31, Sukhapiban
2 Rd.,
Dokmai,
Pravet, Bangkok 10250.
COMMENT
With
trendy design and
strong customer base
have enabled the
subject a commitment
to the concept
of absolute consistency
in quality. Its
operating performance in
2016 was slowdown
from a decrease
in both sales
income and net profit
comparing to the previous
year caused by
slowdown of economy,
low consumers’ spending and purchasing power
and etc. Generally,
it operates a
moderate business in
amidst of unfavouable
factors.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht. 100 each
with fully paid.
The
capital was increased
later as follows:
Bht. 4,000,000
on February 21,
2005
Bht. 10,000,000
on May 20,
2005
Bht. 20,000,000
on August 26,
2005
Bht. 50,000,000
on December 11,
2007
Bht. 55,000,000
on October 16,
2008
The
latest registered capital
was increased to
Bht. 55 million,
divided into 55,000
shares of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vijay Rawat Nationality: Indian Address : 16A,
16th Floor, Supakarn
Condo, Charoennakorn Rd.,
Banglampulang,
Klongsan, Bangkok |
20,000 |
36.36 |
|
Mrs. Niti Rawat Nationality: Indian Address : 16A,
16th Floor, Supakarn
Condo,
Charoennakorn Rd., Banglampulang, Klongsan, Bangkok |
6,950 |
12.64 |
|
Mr. Ajay Tiwari Nationality: Thai Address : 453/9
Trok Wadchannai, Bangklo,
Bangkorlaem, Bangkok |
5,000 |
9.09 |
|
Mr. Srivichai Gepal Nationality: Thai Address : 28/30 Soi
Prachauthis 75, Thungkru, Bangkok |
5,000 |
9.09 |
|
|
|
|
|
Mr. Adires Dubay Nationality: Thai Address : 96 Trok
Rongpasee, Bangrak, Bangkok |
5,000 |
9.09 |
Mr. Vigendra Kumar Tiwari Nationality: Thai Address : 123 Soi
Yenchit 7, Thungwatdon, Sathorn, Bangkok |
4,000 |
7.27 |
|
Mr. Arnon Sangthong Nationality: Thai Address : 744
Pattanakarn Rd., Suanluang,
Bangkok |
2,550 |
4.64 |
|
Mr. Chanchai Khemakanon Nationality: Thai Address : 117/17
Trok Chalongkrung, Mahaprutharam,
Bangrak, Bangkok |
2,000 |
3.64 |
|
Mr. Danai Saefung Nationality: Thai Address : 24
Moo 5, T. Angthong, A. Muang,
Kampaengpetch |
1,500 |
2.72 |
|
Mr. Tanawut Saetern Nationality: Thai Address : 24
Moo 5, T. Angthong, A. Muang,
Kampaengpetch |
1,000 |
1.82 |
|
Mr. Prajak Wongyuttananon Nationality: Thai Address : 134
Moo 1, T. Sakngam,
A. Klonglan,
Kampaengpetch |
1,000 |
1.82 |
|
Mr. Pitarn Sriserm Nationality: Thai Address : 50 Moo
3, T. Daengmor, A. Kuengnai, Ubon Ratchathani |
1,000 |
1.82 |
Total Shareholders : 12
SHARE STRUCTURE [AS
AT APRIL 30,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
10 |
28,050 |
51.00 |
|
Foreign - Indian |
2 |
26,950 |
49.00 |
|
Total |
12 |
55,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Wattana Treekantha No.
2399
FINANCIALS
GEMINI CREATION CO.,
LTD.
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalent |
12,382,186.50 |
17,773,060.28 |
19,473,222.96 |
|
Short-term Investment |
25,798,921.20 |
25,499,361.23 |
20,177,762.66 |
|
Trade Accounts Receivable |
193,903,218.46 |
166,583,838.53 |
166,555,722.84 |
|
Inventories |
89,877,358.58 |
40,557,427.42 |
73,104,823.61 |
|
Other Current Assets
|
1,671,418.18 |
1,024,616.75 |
1,424,427.86 |
|
|
|
|
|
|
Total Current Assets
|
323,633,102.92 |
251,438,304.21 |
280,735,959.93 |
|
|
|
|
|
|
Investment in Related Company |
2,987,820.00 |
2,987,820.00 |
2,987,820.00 |
|
Property, Plant and Equipment |
8,058,672.09 |
9,202,296.49 |
8,248,933.76 |
|
Other Non-current Assets |
707,141.82 |
490,581.32 |
461,071.32 |
|
Total Assets |
335,386,736.83 |
264,119,002.02 |
292,433,785.01 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
92,901,332.86 |
112,505,513.26 |
118,217,986.72 |
|
Trade Accounts Payable |
163,857,774.51 |
76,102,799.47 |
100,673,850.85 |
|
Current Portion of Long-term Liabilities |
490,094.64 |
490,094.64 |
222,843.64 |
|
Accrued Income Tax |
542,309.68 |
515,212.42 |
545,978.90 |
|
Short-term Loan from Related Person |
- |
- |
2,500,000.00 |
|
Other Current Liabilities |
1,371,181.91 |
558,937.69 |
276,080.30 |
|
|
|
|
|
|
Total Current Liabilities |
259,162,693.60 |
190,172,557.48 |
222,436,740.41 |
|
Long-term Liabilities |
581,369.10 |
1,071,463.74 |
500,773.38 |
|
Total Liabilities |
259,744,062.70 |
191,244,021.22 |
222,937,513.79 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 55,000 shares |
55,000,000.00 |
55,000,000.00 |
55,000,000.00 |
|
|
|
|
|
|
Capital Paid |
55,000,000.00 |
55,000,000.00 |
55,000,000.00 |
|
Retained Earning Unappropriated |
20,642,674.13 |
17,874,980.80 |
14,496,271.22 |
|
Total Shareholders' Equity |
75,642,674.13 |
72,874,980.80 |
69,496,271.22 |
|
Total Liabilities and
Shareholders' Equity |
335,386,736.83 |
264,119,002.02 |
292,433,785.01 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales Income |
332,050,972.56 |
409,314,137.04 |
371,872,553.05 |
|
Other Income |
5,074,826.93 |
2,292,545.18 |
5,311,765.82 |
|
Total Revenues |
337,125,799.49 |
411,606,682.20 |
377,184,318.87 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Manufacturing |
313,658,934.48 |
385,265,472.88 |
354,812,542.41 |
|
Selling Expenses |
4,011,566.07 |
3,812,725.82 |
3,455,518.79 |
|
Administrative Expenses |
8,851,714.42 |
7,625,299.61 |
7,004,295.16 |
|
Other Expenses |
1,003,000.75 |
1,630,910.77 |
- |
|
Total Expenses |
327,525,215.72 |
398,334,409.08 |
365,272,356.36 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
9,600,583.77 |
13,272,273.12 |
11,911,962.51 |
|
Financial Cost |
[5,816,552.28] |
[8,927,086.73] |
[6,553,948.02] |
|
Profit / [Loss] before Income
Tax |
3,784,031.49 |
4,345,186.39 |
5,358,014.49 |
|
Income Tax |
[1,016,338.16] |
[966,476.81] |
[1,114,742.72] |
|
|
|
|
|
|
Net Profit / [Loss] |
2,767,693.33 |
3,378,709.58 |
4,243,271.77 |
GEMINI CREATION
CO., LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.25 |
1.32 |
1.26 |
|
QUICK RATIO |
TIMES |
0.90 |
1.10 |
0.93 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
41.20 |
44.48 |
45.08 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.99 |
1.55 |
1.27 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
104.59 |
38.42 |
75.20 |
|
INVENTORY TURNOVER |
TIMES |
3.49 |
9.50 |
4.85 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
213.14 |
148.55 |
163.48 |
|
RECEIVABLES TURNOVER |
TIMES |
1.71 |
2.46 |
2.23 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
190.68 |
72.10 |
103.56 |
|
CASH CONVERSION CYCLE |
DAYS |
127.05 |
114.87 |
135.12 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.46 |
94.12 |
95.41 |
|
SELLING & ADMINISTRATION |
% |
3.87 |
2.79 |
2.81 |
|
INTEREST |
% |
1.75 |
2.18 |
1.76 |
|
GROSS PROFIT MARGIN |
% |
7.07 |
6.44 |
6.02 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.89 |
3.24 |
3.20 |
|
NET PROFIT MARGIN |
% |
0.83 |
0.83 |
1.14 |
|
RETURN ON EQUITY |
% |
3.66 |
4.64 |
6.11 |
|
RETURN ON ASSET |
% |
0.83 |
1.28 |
1.45 |
|
EARNING PER SHARE |
BAHT |
50.32 |
61.43 |
77.15 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.72 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.43 |
2.62 |
3.21 |
|
TIME INTEREST EARNED |
TIMES |
1.65 |
1.49 |
1.82 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(18.88) |
10.07 |
|
|
OPERATING PROFIT |
% |
(27.66) |
11.42 |
|
|
NET PROFIT |
% |
(18.08) |
(20.37) |
|
|
FIXED ASSETS |
% |
(12.43) |
11.56 |
|
|
TOTAL ASSETS |
% |
26.98 |
(9.68) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -18.88%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.07 |
Deteriorated |
Industrial Average |
37.64 |
|
Net Profit Margin |
0.83 |
Satisfactory |
Industrial Average |
1.34 |
|
Return on Assets |
0.83 |
Acceptable |
Industrial Average |
2.12 |
|
Return on Equity |
3.66 |
Satisfactory |
Industrial Average |
5.40 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for
the cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. The company's figure is 7.07%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 0.83%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is 0.83%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is 3.66%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.25 |
Satisfactory |
Industrial Average |
1.84 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
127.05 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 1.25 times in 2016, decrease from 1.32 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.9 times in 2016,
decrease from 1.1 times, by excluding inventory, the company may have problems
meeting current liabilities.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 128 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity Ratio |
3.43 |
Risky |
Industrial Average |
1.51 |
|
Times Interest Earned |
1.65 |
Impressive |
Industrial Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 1.66 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.77 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
41.20 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.99 |
Satisfactory |
Industrial Average |
1.59 |
|
Inventory Conversion Period |
104.59 |
|
|
|
|
Inventory Turnover |
3.49 |
Impressive |
Industrial Average |
2.75 |
|
Receivables Conversion Period |
213.14 |
|
|
|
|
Receivables Turnover |
1.71 |
Acceptable |
Industrial Average |
4.00 |
|
Payables Conversion Period |
190.68 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.71 and
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 38 days at the
end of 2015 to 105 days at the end of 2016. This represents a negative trend.
And Inventory turnover has decreased from 9.5 times in year 2015 to 3.49 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.99 times and 1.55
times in 2016 and 2015 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
Thai baht |
1 |
INR 2.03 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.